Question: Problem 16-6 Calculating Cycles [LO1] Consider the following financial statement information for the Keenan Corporation: Item Beginning Ending Inventory $10,882 $11,680 Accounts receivable 6,151 6,681

Problem 16-6 Calculating Cycles [LO1]

Consider the following financial statement information for the Keenan Corporation:
Item Beginning Ending
Inventory $10,882 $11,680
Accounts receivable 6,151 6,681
Accounts payable 6,452 6,793
Net sales $139,803
Cost of goods sold 87,613

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